Graph Database Market

Increasing demand for flexible online schema environment and real-time big data mining with visualization are expected to drive the market

PORTLAND, PORTLAND, OR, UNITED STATE, September 13, 2022 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Graph Database Market to Reach USD $3,731 million by 2026 - Trends and Growth, Segmentation and Key Companies ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global graph database market size garnered $651 million in 2018 and is expected to generate $3.73 billion by 2026, registering a CAGR of 24.5% from 2019 to 2026.

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The report offers key drivers that propel the growth in the global graph database market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.

Increase in adoption of graph database software in the healthcare industry, rise in application areas, surge in requirement for enhanced response time & accuracy in finding out new data correlations, and rise in penetration of connected data to improve marketing performance drive the growth in the market. However, scarcity of technical experts and high initial expenditure restrain the market growth. On the other hand, upsurge in usage of virtualization in big data analytics and technological advancements in graph database would offer lucrative opportunities in the market.

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Based on end users, the IT & telecom segment accounted for more than two-fifths of the total market share in 2018 and will maintain its lion's share by 2026. This is attributed to need to achieve competitive advantage with the critical data sets that are graphs. However, the transportation & logistics segment is expected to register the highest CAGR of 34.5% from 2019 to 2026, owing to the rise in adoption of graph database technology for fast computation, localized door-to-door service of goods among sellers and buyers, and requirement to upscale their business to include the supply chain.

Based on component, the software segment held the dominant market share, with nearly three-fourths of the total revenue in 2018, and is estimated to continue its leadership position by 2026. This is due to rise in need for innovative software as the traditional database management software are not able to handle the enormous amount of data. However, the services segment is expected to register the highest CAGR of 26.4% from 2019 to 2026, owing to adoption of services to ensure effective functioning of software and platforms during the process.

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North America held the highest market share in terms of revenue in 2018, contributing for more than two-fifths of the total share, and is estimated to maintain its lead during the forecast period. This is due to high dependence on data and need to manage complex data sets. On the other hand, Asia-Pacific is expected to register the highest CAGR of 27.8% from 2019 to 2026, owing to rise in digitization, leveraging information-intensive technologies for gaining a competitive advantage, and utilization of emerging technologies such as IoT, mobility cloud, and others.

Leading market players analyzed in the research include DataStax, Neo4j, Inc., Franz Inc., OrientDB, Oracle Corporation, Objectivity Inc., MongoDB, Teradata Corporation, Stardog Union Inc., and Microsoft Corporation.

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Key Findings of the Graph Database Market:

• By component, the software segment dominated the graph database market size. However, the services segment is expected to exhibit significant growth in the global graph database industry during the forecast period.

• Based on deployment model, the on-premise segment accounted for the highest revenue of graph database industry in 2018.

• By type of database, the non-relational (NoSQL) segment is expected to witness significant growth in the upcoming years.

• Depending on analysis type, the path analysis generated the highest revenue of graph database market in 2018. However, centrality analysis is expected to witness highest growth rate in the forecast period.

• By application, the recommendation engine application is expected to witness significant growth in the upcoming years.

• As per organization size, the large enterprises generated the highest revenue of market in 2018. However, small and medium enterprises is expected to witness highest growth rate in the forecast period.

• Depending on industry vertical, the IT & telecom generated the highest revenue of market in 2018. However, transportation & logistics is expected to witness highest growth rate in the forecast period.

• Region wise, North America dominated the graph database industry in 2018. However, the Asia-Pacific is anticipated to exhibit substantial growth during the graph database market forecast period.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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